Updates, advisories and surprises

(4:24 PM ET) SAN FRANCISCO (MarketWatch) -- AT&T Inc.
T, -1.02%
on Tuesday reported a first-quarter profit of $3.65 billion, or 70 cents a share, compared with earnings of $3.7 billion, or 67 cents a share, in the same period a year ago. Revenue rose 3.6% to $32.5 billion. Excluding one-time items, AT&T earned 71 cents a share. Analysts surveyed by FactSet had forecast the telecom giant to earn 70 cents a share on $32.43 billion. AT&T said that its added 625,000 new long-term wireless service customers during the quarter, up from 296,000 in the same period a year ago. AT&T shares were off by 1.6% in after-hours trading.

Intuitive Surgical falls short on sales, earnings

(4:22 PM ET) LOS ANGELES (MarketWatch) -- Intuitive Surgical Inc.
ISRG, -0.07%
said late Tuesday that first-quarter net income was $44.3 million, or $1.13 a share, compared with $188.9 million, or $4.56 a share, for the same period a year ago. Sales for the Sunnyvale, Calif.-based robotic surgeon maker were $464.7 million against last year's $611.4 million. The company's sales fell short of forecasts from analysts polled by FactSet, who called for revenue of $513.7 million for the quarter. Per-share earnings also were roughly a third of the $3.29 projected, but Intuitive said the $1.13 figure excluded $1.54 in deferral of revenue on the company's new da Vinci Xi surgical system and liability litigation charges. That would have brought adjusted earnings to $2.67 a share. Intuitive said earlier Tuesday that it received regulatory approval for yet another da Vinci system known as the Sp.

Amgen earnings, sales come in below estimates

(4:09 PM ET) LOS ANGELES (MarketWatch) - Amgen Inc.
AMGN, -0.37%
said Tuesday that first-quarter net income was $1.07 billion, or $1.40 a share, compared with $1.43 billion, or $1.88 a share, for the same period a year ago. Sales for the Thousand Oaks, Calif.-based biotechnology giant were $4.52 billion against last year's $4.24 billion. Adjusted earnings were $1.87 a share, short of the $1.94 forecast from analysts polled by FactSet. Sales also fell short of the $4.76 billion FactSet projection. Shares ended trading Tuesday up 2% to $119.30.

VMware reports higher profit, sales

(4:09 PM ET) SAN FRANCISCO (MarketWatch) - VMware Inc.
VMW, +0.29%
on Tuesday reported a first-quarter profit of $199 million, or 46 cents a share, compared with a profit of $173 million, or 40 cents a share, for the year-earlier period. Revenue rose to $1.36 billion from $1.19 billion. Adjusted profit was 80 cents a share. Analysts polled by FactSet on average were expecting the business software company to report a profit of 79 cents a share, on revenue of $1.35 billion. VMware shares were up 2.2% after hours.

Genworth shares boosted by MGIC earnings beat

(12:55 PM ET) EW YORK (MarketWatch) -- Genworth Financial, Inc.
GNW, +4.35%
shares rose more than 4% on Tuesday, getting a boost from rival MGIC Investment Corporation
MTG, +2.20%
after it reported better than expected earnings. The financial services and mortgage insurance firm MGIC reported first-quarter net income of $60 million, or $15 cents a share, compared to a loss of $72.9 million, or 30 cents a share, in the same period the year before. Revenue was $235 million, compared to $269.2 million the year before. Analysts expected net income of 11 cents a share on revenue of $214.3 million. The firm also reported new insurance policies amounted to $5.2 billion, compared to $6.5 billion in the first quarter of 2013. Shares for mortgage insurance company Radian Group Limited
RDN, +3.78%
were also up nearly 5%.

(8:15 AM ET) NEW YORK (MarketWatch) -- McDonald's Corp.
MCD, -1.86%
said Tuesday its first-quarter profit fell to $1.20 billion, or $1.21 a share, from $1.27 billion, or $1.26 a share, a year earlier. Total revenues edged up to $6.70 billion from $6.61 billion a year earlier. Operating income inched down to $1.94 billion from $1.95 billion a year earlier. Analysts polled by FactSet had expected earnings of $1.24 a share on revenue of $6.71 billion. Global same-store sales rose 0.5% in the first quarter while U.S. same-store sales fell 1.7% in the same period. The fast-food company said its earnings decline was primarily caused by income-tax benefits from the prior year. Don Thompson, chief executive of McDonald's, said global same-store sales for April are expected to be "modestly positive." Shares were up 0.6% in premarket trade.

Harley-Davidson beats estimates on higher shipments, cost cuts

(7:31 AM ET) NEW YORK (MarketWatch) -- Harley-Davidson Inc.
HOG, +1.31%
said it earned $265.9 million, or $1.21 a share, in the first quarter, up from $224.1 million, or 99 cents a share, in the year earlier period, buoyed by higher motorcycle shipments and cost cuts. Revenue climbed to $1.73 billion from $1.57 billion. The FactSet consensus was for EPS of $1.07 for the quarter. "Harley-Davidson delivered gains on many fronts in the first quarter, with shipments up 7.3%, strong margin improvement and solid growth in dealer new motorcycle sales," CEO Keith Wandell said in a statement. Dealers sold 57,415 new motorcycles worldwide in the quarter, with international sales growing in the double digits. The company said it expects to ship 279,000 to 284,000 motorcycles worldwide in 2014, an increase of 7% to 9%. It expects its 2014 operating margin to come in at 17.5% to 18.5%.

Comcast shares climb after earnings top forecast

(7:22 AM ET) NEW YORK (MarketWatch) - Comcast Corp.
CMCSA, -0.26%
reported its first-quarter profit rose to $1.87 billion, or 71 cents a share, from $1.44 billion, or 54 cents a share, a year earlier. Adjusted to exclude certain items, the telecommunications company earned 68 cents a share, up from 51 cents a share a year ago. Revenue rose to $17.41 billion, from $15.31 billion a year earlier, the firm said Tuesday. Analysts had expected adjusted earnings of 64 cents a share on revenue of $17.02 billion, according to FactSet. The company attributed profit growth to strength in its high-speed internet and business services units. Shares in Comcast were up 2.3% in premarket trading.

United Technologies tops estimates, ups 2014 outlook

(7:13 AM ET) NEW YORK (MarketWatch) -- United Technologies Corp.
UTX, +0.38%
said net profit fell 4% to $1.2 billion, or $1.32 a share, in the first quarter, as restructuring costs shaved $0.09 off earnings. Sales rose 2% to $14.75 billion, as organic growth offset the impact of divestitures and exchange-rate fluctuations. The FactSet consensus was for EPS of $1.27 and revenue of $14.69 billion. "All five of the segments contributed to UTC's organic sales growth in the quarter," CEO Louis Chenevert said in a statement. The CEO said the company is planning to increase restructuring spending to $375 million from $300 million, which it expects will be offset by one-time gains. As a result, the company is now expecting full year earnings per share of $6.65 to $6.85, up from its previous estimate of $6.55 to $6.85.

Philips shares tumble 6% after profit fall

(3:15 AM ET) MADRID (MarketWatch) -- Shares of Philips NV
PHG, -1.76%
(NL:PHIA)fell 6% on Tuesday after the company reported a 14% fall in profit and spoke of a "challenging start to the year." Net profit for the diversified technology group's first quarter fell to 138 million euros ($190.5 million) from �161 million in the year-ago period. Revenue fell to �5.02 billion from �5.26 billion in the year-ago period, taking a negative hit of 5% due to currencies. Group comparable sales growth was flat. Frans van Houton, chief executive officer, said significant currency impacts, market headwinds such as China and Russia and the suspension of a facility in Cleveland weighed in the first quarter. "Looking ahead, 2014 will be a challenging year, but we remain very confident of achieving our 2016 mid-term financial targets," said van Houton.

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